Trump-Xi Summit Ends After Two Hours—Taiwan And Trade Discussed (Live)

Key Facts

What Did Xi And Trump Say In Their Banquet Speeches?

Trump and his delegation attended a banquet at the Great Hall of the People, hosted in the president’s honor after the first day of summit talks. Xi delivered the opening toast at the banquet and said both he and Trump believe the China-U.S. relationship is “the most important bilateral relationship in the world. We must make it work and never mess it up.” The Chinese president said, “Achieving the great rejuvenation of the Chinese nation and making America Great Again can go hand in hand,” in a remark linking his goal for China with Trump’s slogan. In response, Trump said: “This is a great honor…It really was a magnificent welcome like none other.” The president said he had “extremely positive conversations” with Xi and said he had invited the Chinese President to visit the White House on September 24.

See Billionaires Attending The State Banquet

Tesla CEO Elon Musk, Apple CEO Tim Cook, Nvidia CEO Jensen Huang and Blackstone CEO Stephen Schwarzman were all seen at the banquet dinner on Thursday night. The Associated Press reported that several people were seen taking selfies with Musk, the world’s richest person. One of the people who greeted Musk and took a photo with him was Chinese billionaire and Xiaomi CEO Lei Jun, who has an estimated net worth of $25.4 billion. Lei’s company is one of China’s biggest smartphone makers and in recent years has emerged as a challenger to Musk’s Tesla in the EV space.

What Else Happened At The Summit Meeting?

Ahead of the meeting, Trump was greeted by Xi at Beijing’s Great Hall of the People after receiving a guard of honor from the Chinese military, a 21-gun salute and a group of children waving the two countries’ flags and flower bouquets. In his opening remarks, Trump highlighted the phone calls made to each other, saying “whenever we had a problem we worked it out very quickly.” Trump then boasted about bringing the “greatest” and “biggest” business delegation with him. Trump claimed he asked “the top 30” business executives to join and “every single one of them said yes. And I didn’t want the second or third in the company, I wanted only the top.” The president added that the business leaders were here to “pay respects” to Xi and to China and the look forward to “doing trade and business.”

What Is The Thucydides Trap And Why Did Xi Mention It?

In his opening remarks, Xi asked if China and the U.S. will be able to overcome the “Thucydides Trap” and establish a new model for ties between two great powers. The term “Thucydides Trap” was popularized by Harvard professor and political scientist Graham Allison and draws a parallel between the U.S.—China rivalry and historical clash between Athens and Sparta. The theory suggests that the rapid rise of an emergent power—like China today and Athens in the past—can draw an established power—like the U.S. today or Sparta in the past—into an inevitable conflict. In an op-ed outlining this more than 15 years ago, Allison urged leaders of both countries to talk to each other “much more candidly about likely confrontations and flash points,” and make “substantial adjustments to accommodate the irreducible requirements of the other.”

Tangent

According to Chinese state media, Xi warned that the concept of Taiwanese independence and regional peace are “as irreconcilable as fire and water.” Taiwan’s foreign ministry issued a response saying, “Beijing is the sole risk to regional peace and stability,” and the country plans to continue cooperation with the U.S. and other countries that “uphold freedom and democracy to ensure regional security and prosperity.”

What Did Xi Say About U.s.-China Trade Talks?

During the talks with Trump, Xi declared that positive China-U.S. economic ties are “mutually beneficial and win-win” according to state media. “Yesterday, our economic and trade teams produced generally balanced and positive outcomes. This is good news for the people of the two countries and the world,” Xi reportedly said without offering any specific details on issues like tariffs.

What Did Trump Say About The Meeting?

After the summit meeting, Trump and Xi visited the Temple of Heaven, a historic landmark in Beijing. Trump had a brief interaction with the White House pool at the location and said: “It’s great — a great place. Incredible. China is beautiful.” The president didn’t answer any questions about Taiwan.

What Has The White House Said About The Summit Meeting?

In a readout of the summit shared with various outlets, the White House said: “The two sides agreed that the Strait of Hormuz must remain open to support the free flow of energy.” Both Xi and and the Chinese foreign ministry have recently called for a resolution to the U.S.-Iran war and the reopening of the Strait of Hormuz, which is used to transport 20% of the world’s oil. The White House also said that Trump discussed curbing the flow of chemicals used to produce fentanyl, expanded Chinese investments in the U.S. and the purchases of American farm products. An unnamed U.S. official, speaking anonymously, also told the Associated Press Xi expressed interest in buying U.S. oil to help reduce China’s dependence on energy from the Middle East.

Further Reading

Trump Lands In China For Crucial Meeting With Xi Jinping (Photos) (Forbes)